XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Interest and fees on loans $ 33,025 $ 36,207 $ 100,190 $ 108,020
Taxable interest on investments 4,480 4,794 14,241 14,729
Nontaxable interest on investments 823 675 2,438 1,943
Dividend income 163 158 498 562
Other interest income 176 686 691 1,712
Total interest income 38,667 42,520 118,058 126,966
Interest Expense        
Interest on deposits 2,899 8,963 12,953 26,542
Interest on borrowings 394 801 1,591 2,660
Interest on subordinated debentures 893 833 2,668 2,373
Total interest expense 4,186 10,597 17,212 31,575
Net interest income 34,481 31,923 100,846 95,391
Provision for credit losses 987 730 12,160 2,647
Net interest income after provision for credit losses 33,494 31,193 88,686 92,744
Non-Interest Income        
Mortgage banking income, net 4,664 2,668 12,889 5,662
Brokerage and insurance commissions 755 625 2,034 1,942
Bank-owned life insurance 615 613 1,918 1,810
Customer loan swap fees 51 109 222 919
Net gain on sale of securities 0 1 0 28
Other income 874 877 2,373 2,498
Total non-interest income 12,696 10,739 36,159 30,165
Non-Interest Expense        
Salaries and employee benefits 13,739 13,604 41,693 40,043
Furniture, equipment and data processing 3,076 2,708 8,576 8,111
Net occupancy costs 1,785 1,710 5,785 5,263
Consulting and professional fees 913 892 2,877 2,679
Debit card expense 972 960 2,784 2,666
Regulatory assessments 510 182 971 1,091
Amortization of core deposit intangible assets 170 177 511 529
Other real estate owned and collection costs, net 71 251 270 353
Other expenses 3,985 3,264 9,824 9,754
Total non-interest expense 25,221 23,748 73,291 70,489
Income before income tax expense 20,969 18,184 51,554 52,420
Income Tax Expense 4,194 3,696 10,346 10,455
Net Income $ 16,775 $ 14,488 $ 41,208 $ 41,965
Per Share Data        
Basic earnings per share $ 1.12 $ 0.94 $ 2.74 $ 2.70
Diluted earnings per share $ 1.11 $ 0.94 $ 2.73 $ 2.70
Weighted average number of common shares outstanding 14,961,465 15,339,093 15,008,004 15,482,765
Diluted weighted average number of common shares outstanding 15,001,047 15,381,928 15,044,427 15,522,501
Cash dividends declared per share $ 0.33 $ 0.30 $ 0.99 $ 0.90
Debit Card [Member]        
Non-Interest Income        
Revenue $ 2,627 $ 2,432 $ 7,159 $ 6,723
Deposit Account [Member]        
Non-Interest Income        
Revenue 1,606 1,970 4,955 6,202
Fiduciary and Trust [Member]        
Non-Interest Income        
Revenue $ 1,504 $ 1,444 $ 4,609 $ 4,381